$3.2m offer for Winns
1 , : i.VZ. Press .Assn—Copyriiiht I SYDNEY. Winthrop Investments,: Ltd, is making a $A3.2m 3 1 take-over offer for Winns,’ r Ltd. The bid is conditional on| 1 Winns not buying six I ■ “Mates" stores from Burns, Philp, Ltd. ; Winthrop is offering HOci ’ cash for each Winns share, i compared with market price ■ 5 of 85c. r Winns said on Monday' ;ithat it was buying six “Mates’’ stores for $3.4m. Winthrop, the largest shareholder in Winns, claims that the acquisition would! result in a further deteriora-l tion in Winn's profit, and an erosion of shareholders funds. The company has been granted an injunction by the l , Supreme Court, restraining j: Winns from proceeding with; s (the purchases.
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Bibliographic details
Press, Volume CXV, Issue 33917, 9 August 1975, Page 19
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120$3.2m offer for Winns Press, Volume CXV, Issue 33917, 9 August 1975, Page 19
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